On August 6, SanDisk Corp. declined 12.79% in regular trading, trading at $1,191.545/share, with turnover of $2.689 billion. The sell-off was triggered by below-expectation forward guidance despite record-breaking Q4 results.

SanDisk reported FY2026 Q4 revenue of $8.97 billion, up 372% year-over-year and above the $8.39 billion consensus estimate. Adjusted EPS came in at $39.25, beating the $34.45 estimate by nearly 14%, while adjusted gross margin reached a historic high of 84.6%. However, the company guided FY2027 Q1 revenue to $103-108 billion with a midpoint of $105.5 billion, below the $108 billion consensus. Adjusted EPS guidance of $44-46 also fell slightly short of the $45.58 estimate.

Despite announcing a $14 billion share buyback program and disclosing NBM long-term agreements with 8 data center clients totaling $93.9 billion in minimum committed revenue, the modest guidance shortfall was amplified given the stock's 47% decline in July. Multiple analysts lowered price targets, with Jefferies cutting to $1,750 from $3,000 and Goldman Sachs warning of negative read-through to peers including Micron. Western Digital fell 21.43% and Seagate declined 8.14% in sympathy.

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